Consolidated statement of changes in equity for the year ended December 31, 2023
| Attributable to the Owners of the Company | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Share capital AED’000 | Share premium AED’000 | Treasury shares AED’000 | Statutory reserve AED’000 | Accumulated losses AED’000 | Other reserves AED’000 | Mandatory Convertible Bonds and Sukuk AED’000 | Total AED’000 | Non‑controlling interests AED’000 | Total AED’000 | |
| | 1,019,209 | ‑ | 19,747 | (671,543) | (2,724) | ‑ | 364,689 | 10,148 | 374,837 | |
| Treasury shares (Note15 | ‑ | 8,452 | (24,045) | ‑ | ‑ | ‑ | ‑ | (15,593) | ‑ | (15,593) |
| Liability holders issued Mandatory convertible bonds (“New Bond”) (Note16) | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | 85,394 | 85,394 | ‑ | 85,394 |
| Equity issued to New Bond holders (Note16) | 256,182 | ‑ | ‑ | ‑ | ‑ | (170,788) | (85,394) | ‑ | ‑ | ‑ |
| Acquisition of non‑controlling interests | ‑ | ‑ | ‑ | ‑ | (188) | (7,559) | ‑ | (7,747) | (9,960) | (17,707) |
| Total comprehensive loss for the year | ‑ | ‑ | ‑ | (7,428) | ‑ | ‑ | (7,428) | (188) | (7,616) | |
| Balance as at December 31, 2022 | 1,275,391 | 8,452 | (24,045) | 19,747 | (679,159) | (181,071) | ‑ | 419,315 | ‑ | 419,315 |
| Capital reduction and absorption of losses (Note13) | (637,695) | ‑ | ‑ | (19,747) | 657,442 | ‑ | ‑ | ‑ | ‑ | ‑ |
| Treasury shares (Note15) | ‑ | 24,882 | (72,236) | ‑ | ‑ | ‑ | ‑ | (47,354) | ‑ | (47,354) |
| Issuance of mandatory convertible Sukuk (Note13) | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | 220,000 | 220,000 | 220,000 | |
| Shares issued to Sukuk holders (Note13) | 200,000 | 2,400 | ‑ | ‑ | ‑ | ‑ | (220,000) | (17,600) | ‑ | (17,600) |
| Total comprehensive income for the year | ‑ | ‑ | ‑ | ‑ | 21,275 | ‑ | ‑ | 21,275 | ‑ | 21,275 |
| Transfer to statutory reserve (Note14) | ‑ | ‑ | ‑ | 2,128 | (2,128) | ‑ | ‑ | ‑ | ‑ | ‑ |
| | 837,696 | 35,734 | (96,281) | 2,128 | (2,570) | (181,071) | ‑ | 595,636 | ‑ | 595,636 |
The accompanying notes 1 to 34 form an integral part of these consolidated financial statements.